Question: Following are selected accounts for Procter & Gamble. (a) Indicate whether each account appears on the balance sheet (B) or income statement (1). ($
Following are selected accounts for Procter & Gamble. (a) Indicate whether each account appears on the balance sheet (B) or income statement (1). ($ millions) Sales Accumulated depreciation Depreciation expense Retained earnings Net income Property, plant & equipment, net Accounts receivable Selling, general & administrative expense Total liabilities Stockholders' equity Amount Classification $43,373 10,438 1,703 11,686 5,186 13,104 3,038 13,009 27,520 16,186 (b) Using the data, compute total assets and total expenses. Total Assets = $ Total Expenses = $ (> ( ( O
Step by Step Solution
3.44 Rating (163 Votes )
There are 3 Steps involved in it
a Classification of accounts Sales I Income statement Accumulated depreciation B Balan... View full answer
Get step-by-step solutions from verified subject matter experts
